TornadoCash Attacker Proposes to Revert DAO After Gaining $650,000
CoinEdition
Published May 22, 2023 09:00AM ET
Updated May 22, 2023 09:30AM ET
TornadoCash Attacker Proposes to Revert DAO After Gaining $650,000
- TornadoCash hacker presents a new proposal to restore the DAO’s state of governance.
- The new proposal comes after the hacker had obtained 483,000 TORN and exchanged over 379,000 to gain $650,000.
- The cryptocurrency community is wary of the new proposal.
On May 22, the TornadoCash hacker deployed a new proposal that will seemingly restore the DAO’s state of Governance. According to Twitter user @0xdface, everyone will know the results on May 26, 2023, 11:53:38 GMT, “plus potentially 6 hours delay if some last minute changes in lead occur.” At the time of writing, there are over 500,000 votes in favor of the proposal.
However, the cryptocurrency community is wary of the proposal. Some have posited that the proposal may be a ploy to pump TORN so that the hacker could dump more tokens at a better price. @0xdface themselves presented that the proposal could either be a form of trolling or “an expensive but not disastrous lesson in Governance security.”
The attacker allegedly snuck in an extra function when they created their malicious proposal. The proposal used the same logic as a previous proposal that voters approved, and once the new proposal was approved by voters, the attack used the emergencyStop function to update the proposal logic in order to grant themselves the fake votes.
The post TornadoCash Attacker Proposes to Revert DAO After Gaining $650,000 appeared first on Coin Edition.
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